Toysmith is changing.
Michael Keaton will step down as chief executive later this year and exit the company after five years in the job.
The industry veteran announced the news to his team on Monday and plans to remain in his role until a new CEO is named in the fourth quarter.
Toysmith’s strong position and bright future make now the perfect time for me to step down and allow a new CEO to take the helm, with the support of our capable leadership team."
Keaton joined Toysmith in 2019 from Schleich North America, where he served as president. Prior to joining Schleich, he worked for the LEGO Group for 13 years. At Toysmith, Keaton helps businesses restructure to respond to changing business needs during the COVID-19 pandemic. Last year, the company relocated its offices and warehouse.
“I want to thank the owners of Toysmith for their trust in my leadership and the Toysmith team for the wonderful experience I had,” Keaton added of his time at the company. Looking ahead, he said he plans to spend more time with his family while volunteering, including with the Toy Foundation.
The news that Toysmith’s then CEO Michael Keaton will leave the company this fall first appeared on The Toy Book.
